Governor Blagojevich has another “Dumbo” scheme to get money to the Chicago Transit Authority (CTA).
I hate to tell Rod, but you cannot really affix wings to an elephant and make it fly.
The governor’s so-called $24 million “bailout” is supposed to prevent the CTA from making highly publicized (read that as politically harmful) cuts in service and increases in fares.
The problem is, it is not a bailout at all. The plan merely advances or loans money from next year’s budget subsidy from the Regional Transport Authority (RTA) to cover the current shortage. This means the fix is a borrowed-band-aid to cover a cancer.
It does not take a rocket scientist or a corporate accountant to figure out that the scheme will only create a $24 million problem for next year’s budget.
There is only one possible fix, but it is something for which government agencies have no talent. It requires cutting fat out of the budget and streamlining operations. It means using technology to reduce payroll. Increasing ridership. The system has to be made to run more efficiently. Yes, more service for less money. Not only is that possible, it is the ONLY way to solve the problem.
Financial “fixes” and “bailouts” are like narcotics. They alleviate the current pain with the foolish belief that some how the dependency and destructiveness will be miraculously resolved in the future In fact, the future problem will be worse.
The governor would believe that the laws of economics can be ignored like Disney’s elephant ignored the laws of physics. The only difference is that Dumbo is a cartoon, and Blago is a joke – a bad one.
The governor’s so-called $24 million “bailout” is supposed to prevent the CTA from making highly publicized (read that as politically harmful) cuts in service and increases in fares.
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